5 Unexpected Costs of Aging in Place — Even With No Mortgage
Think paying off your mortgage means a cheap retirement? From home modifications to maintenance, these sneaky aging-in-place costs can derail your retirement.
Aging in place is a popular choice for retirees for good reason. Home is where you raised a family, built a life, and rooted yourself in community. Plus, if your mortgage is paid off, you've eliminated one of retirement's biggest expenses.
However, housing costs go far beyond a mortgage and property taxes. If you aren't prepared, these five hidden costs of aging in place can easily throw your retirement budget off course.
Five hidden costs of aging in place
1. Home modifications
Aging in place might be as easy as relocating to a main-floor guest room, or it could require a complete architectural overhaul. Before committing, make sure your home is suitable for aging in place, and if it's not — that you can afford the necessary upgrades.
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Major modifications such as walk-in showers, wheelchair ramps, and widened doorways can range from $2,500 to over $20,000, and Medicare won't cover them. The last thing you want is to find out after retiring that your hallways can't accommodate a wheelchair.
If you aren't sure whether your home is age-in-place ready, take our quick quiz here. Before you decide, ask yourself these three questions first.
2. Chore tax
Mowing the lawn, cleaning the house, tending to the pool and otherwise maintaining the house may seem easy in the early years of retirement, but as you get older, you may not be up for all that physical labor. Hiring someone for all that home maintenance comes at a cost that can add up.
On average, basic lawn maintenance costs $100 to $500 per month, while pool service ranges from $100 to $350 monthly. House cleaning typically costs $120 to $240 per visit, depending on your home's size.
3. Aging home appliances
From the boiler to the refrigerator, if you are aging in place, chances are, your appliances are too. They may be healthy now, but as they get older, they could fall into disrepair and need replacing, which could set you back some serious cash. Plus, homeowners' insurance won't cover a crack in your oil tank or a refrigerator that suddenly stops working.
How much will you be on the hook if you have to replace an old oil tank? Anywhere from $400 to $6,000, according to Angi. Meanwhile, the average cost to replace an HVAC system is $7,500, based on unit type and home size.
4. Transportation costs
If your home is in the suburbs and you lose the ability to drive, getting around can get expensive. That's particularly true if public transportation is inaccessible in your neighborhood or if you don't have a support network that can shuttle you to and from appointments.
Taking a rideshare or taxi to a doctor's appointment, the grocery store, or to visit friends and family can quickly add up. Spending $20 to $40 per trip, or $300 or more per month just to run errands or get to appointments, will eat into your budget fast.
5. Rising homeowners' insurance costs
Even if your mortgage is paid off and homeowners insurance is no longer required, going without it means you are personally on the hook for any damage. That's why most mortgage-free homeowners keep their policies.
If you plan to age in place with peace of mind, be prepared for rising insurance costs. That is especially true in states like Colorado, Minnesota, and Iowa, which saw double-digit premium hikes in recent years. Nationwide, average rates jumped 6% in 2025 alone
Crunch the numbers before aging in place
Aging in place is the goal for many retirees, and for good reason — your home holds your memories, your routine and your community. But before committing to stay put long-term, take an honest look at what it will take to keep your house safe, functional and comfortable. Running the numbers on these hidden expenses today will help ensure your forever home stays a place of comfort — and doesn't become a financial trap later on.
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